Meridian Investment Counsel Inc. Cuts Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Meridian Investment Counsel Inc. cut its holdings in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,670 shares of the semiconductor company’s stock after selling 9,002 shares during the period. Taiwan Semiconductor Manufacturing comprises approximately 5.6% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 2nd biggest holding. Meridian Investment Counsel Inc.’s holdings in Taiwan Semiconductor Manufacturing were worth $18,894,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in shares of Taiwan Semiconductor Manufacturing in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $26,000. Hopwood Financial Services Inc. bought a new position in shares of Taiwan Semiconductor Manufacturing during the 4th quarter worth approximately $27,000. Roxbury Financial LLC acquired a new position in Taiwan Semiconductor Manufacturing in the 4th quarter valued at about $29,000. Finally, CoreFirst Bank & Trust acquired a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth approximately $39,000. 16.51% of the stock is currently owned by institutional investors and hedge funds.

Taiwan Semiconductor Manufacturing Stock Down 1.4 %

Shares of NYSE TSM opened at $165.82 on Monday. The stock has a 50-day moving average price of $192.35 and a two-hundred day moving average price of $192.71. The company has a market cap of $860.00 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 0.66 and a beta of 1.13. Taiwan Semiconductor Manufacturing Company Limited has a 12 month low of $125.78 and a 12 month high of $226.40. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.24.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, January 16th. The semiconductor company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.08. Taiwan Semiconductor Manufacturing had a net margin of 40.51% and a return on equity of 30.47%. As a group, analysts forecast that Taiwan Semiconductor Manufacturing Company Limited will post 9.2 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be paid a $0.6855 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $2.74 annualized dividend and a dividend yield of 1.65%. This is an increase from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.55. Taiwan Semiconductor Manufacturing’s dividend payout ratio is currently 30.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays increased their target price on Taiwan Semiconductor Manufacturing from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. StockNews.com lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $225.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $220.00.

Taiwan Semiconductor Manufacturing Profile

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally. It provides a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.